PRINCETON — Nearly 270 years after its founding, Princeton University is rethinking its long-term plan.

Christopher Eisgruber, the Ivy League school's new president, told a campus group earlier this week that Princeton is working on a new strategic plan in a process that should take more than a year to complete.

"The strategic planning process will help us, guide us, in the years ahead and focus the university's energy and mission," Eisgruber said. "The university's mission is about education, research and the common good."

Princeton will ask itself big questions, including whether to expand the student body, the president said. The planning process will also explore how Princeton can attract more low-income students and whether the university should start a transfer program for community college students and military veterans.

The new strategic plan will also focus on financial support for the university, renovating or replacing campus buildings and making public service part of a Princeton education, Eisgruber said.

Princeton's new strategic plan will involve people across campus, including the university's trustees and members of the campus community, Eisgruber said.

"It will involve lots of different pieces of the campus and a lot of different kinds of questions," he said.

Eisgruber took office in July, taking over for former Princeton president Shirley Tilghman. He has called for Princeton to focus on liberal arts education and its motto, "In the Nation's Service and in the Service of All Nations."